Action, Collaboration, Transformation were the key mantras laid out by Debashish Sarkar, CGM and head, strategic Training Unit, State Bank of India at the one day workshop on ''Cyber Security: Issues and Strategies'' on Jan. 19, 2015 at State Bank Auditorium in Mumbai held jointly with Truth Labs, India and Microsoft India. P. Pradeep Kumar, MD & GE Corporate Banking inaugurated the workshop and said that cyber risks are not only growing and changing rapidly, but also increasingly getting sophisticated.

Financial infrastructure could be hit hard if there are concerted cyber-attacks. Banks are not only custodians of public money but also of personal information of its customers. Since trust is the very foundation of banking, we need to be on guard always and banks should educate the customers and staff in this vital area.

G. Gopalakrishna, director, CAFRAL and chairman of the RBI Working Group on Information Security, Electronic Banking, Technology Risk Management and Cyber Frauds gave the keynote address assessing the status of implementation of the working group's recommendations and said that the need of the hour is to employ multiple layers of defense to keep fraudsters out of enterprise systems and predictive modeling, e-discovery and Big data forensics.

Shares of the bank declined Rs 3.30, or 1.01%, to trade at Rs 322.55 at the BSE (1.22 p.m., Thursday).